Nuvalent, Inc. (NASDAQ:NUVL - Get Free Report) insider Deborah Ann Miller sold 22,000 shares of the firm's stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $75.20, for a total transaction of $1,654,400.00. Following the completion of the transaction, the insider now directly owns 33,300 shares in the company, valued at approximately $2,504,160. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.
Nuvalent Stock Performance
Shares of NUVL opened at $75.09 on Friday. Nuvalent, Inc. has a 12 month low of $23.09 and a 12 month high of $89.39. The firm has a fifty day simple moving average of $81.11 and a 200 day simple moving average of $68.25.
Nuvalent (NASDAQ:NUVL - Get Free Report) last released its earnings results on Tuesday, February 27th. The company reported ($0.62) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.60) by ($0.02). Equities research analysts anticipate that Nuvalent, Inc. will post -2.96 earnings per share for the current year.
Hedge Funds Weigh In On Nuvalent
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Institutional investors have recently added to or reduced their stakes in the company. Principal Financial Group Inc. increased its stake in shares of Nuvalent by 1.4% during the 4th quarter. Principal Financial Group Inc. now owns 9,774 shares of the company's stock worth $719,000 after purchasing an additional 139 shares during the last quarter. Tower Research Capital LLC TRC lifted its position in shares of Nuvalent by 41.0% in the third quarter. Tower Research Capital LLC TRC now owns 643 shares of the company's stock valued at $30,000 after buying an additional 187 shares during the last quarter. State Board of Administration of Florida Retirement System boosted its stake in shares of Nuvalent by 3.1% during the 3rd quarter. State Board of Administration of Florida Retirement System now owns 7,020 shares of the company's stock worth $323,000 after acquiring an additional 210 shares during the period. Teacher Retirement System of Texas raised its stake in Nuvalent by 4.8% in the 3rd quarter. Teacher Retirement System of Texas now owns 5,846 shares of the company's stock valued at $269,000 after acquiring an additional 269 shares during the period. Finally, Amalgamated Bank lifted its holdings in Nuvalent by 8.1% during the 4th quarter. Amalgamated Bank now owns 3,815 shares of the company's stock valued at $281,000 after purchasing an additional 285 shares during the last quarter. 97.26% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
NUVL has been the subject of a number of recent analyst reports. Robert W. Baird initiated coverage on Nuvalent in a research note on Friday, February 23rd. They issued an "outperform" rating and a $105.00 price target for the company. Wedbush reissued an "outperform" rating and set a $99.00 price target on shares of Nuvalent in a research report on Tuesday, February 27th. Leerink Partnrs restated a "market perform" rating on shares of Nuvalent in a research report on Thursday, February 22nd. Guggenheim initiated coverage on Nuvalent in a report on Wednesday, February 28th. They set a "buy" rating and a $99.00 target price on the stock. Finally, BMO Capital Markets increased their price target on Nuvalent from $93.00 to $102.00 and gave the stock an "outperform" rating in a report on Wednesday, February 28th. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, Nuvalent currently has an average rating of "Moderate Buy" and an average price target of $81.50.
Get Our Latest Analysis on Nuvalent
About Nuvalent
(
Get Free Report)
Nuvalent, Inc, a clinical stage biopharmaceutical company, engages in the development of therapies for patients with cancer. Its lead product candidates are NVL-520, a novel ROS1-selective inhibitor to address the clinical challenges of emergent treatment resistance, central nervous system (CNS)-related adverse events, and brain metastases that may limit the use of ROS1 tyrosine kinase inhibitors (TKIs) for patients with ROS proto-oncogene 1 (ROS1)-positive non-small cell lung cancer (NSCLC) which is under the phase 2 portion of the ARROS-1 Phase 1/2 clinical trial; NVL-655, a brain-penetrant ALK-selective inhibitor, to address the clinical challenges of emergent treatment resistance, CNS-related adverse events, and brain metastases that might limit the use of first-, second-, and third-generation ALK inhibitors that is under the phase 2 portion of the ALKOVE-1 Phase 1/2 clinical trial; and NVL-330, a brain-penetrant human epidermal growth factor receptor 2 (HER2)-selective inhibitor designed to treat tumors driven by HER2ex20, brain metastases, and avoiding treatment-limiting adverse events including due to off-target inhibition of wild-type EGFR, which is expected to initiate phase 1 trial.
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